Uncensored Crypto podcast: episode 1 review

The Uncensored Crypto podcast delivers straight-talk about Bitcoin and other cryptocurrencies, Web3, the blockchain, DeFi, NFTs, and more. Host Michael Hearne interviews the disruptors at the forefront of the crypto revolution who are shaping our economic, financial, and political future. 

This marks the first in our podcast series, where we discuss the first episode of the uncensored crypto podcast. In this episode, Michael speaks to Commodore about DAOs, Krause House, the power of community, and what social tokens and DAOs will look like in the future.

Here’s a link to the trailer to learn more about the Uncensored Crypto podcast.

One reason so many crypto investors and enthusiasts are interested in cryptocurrency is because of the idea of decentralization. A DAO, or decentralized autonomous organization, is an open-source blockchain protocol. This protocol can automatically execute actions without intermediaries or central leadership. 

What is Krause House?

Commodore (a pseudonym) is a part of Krause House. The Krause House is a decentralized autonomous organization that is hoping to eventually purchase an NBA team. The goal is for fans to come together and create the right community that can eventually help the DAO scale from the ground up. 

The main idea is simple: since fans are often the “lifeblood” of NBA teams, why not empower an active fan-led community to own a team instead of the usual billionaires? Krause House believes that Web 3.0 offers the unique opportunity for fan ownership in professional sports. 

Krause House has been getting a lot of momentum lately, and Commodore credits Seed Club in the podcast for much of this recent growth. Seed Club describes itself as a DAO that builds, supports, and invests in tokenized communities. In this way, Seed Club acts as a social token accelerator, offering a network of both backers and cohorts. The 6-week program helped Krause House with specific insights and questions to help them scale quicker and more efficiently. 

The importance of onboarding

In the first Uncensored Crypto podcast episode, Commodore offers some interesting insight. He points out that it often helps to think about a DAO the same way that one might think about a product. One of the biggest challenges with SAAS products is to reduce customer churn as much as possible, and this is also critical when it comes to building and scaling a decentralized autonomous organization.

The goal is to ensure that the DAO meets people where they are. Sequential onboarding has been critical to Krause House revamping its onboarding process, since not everyone finds out about Krause House the same way. A middle-aged investor who is new to crypto may not even understand how to set up a Bitcoin wallet, and that onboarding process has to look different from a younger tech-savvy crypto investor willing to “ape into” Krause House with millions of dollars.

Grassroots vs greed

Commodore emphasizes that Krause House has a long-term vision and that it will take a lot of work for the community to eventually purchase a major sports team. He stresses that Krause House has three main steps to reach its ultimate goals: building the right community, building trust/reputation and then building up a treasury, and allocating the resources to actually begin purchasing sports teams. 

There’s a lot of excitement about how tokenization and blockchain will change the way that human beings think about ownership. However, Commodore also knows that there are many sports teams owners that will form partnerships where investors end up getting the short end of the stick. Without saying names, he points out that there are sports-related tokenization projects that have ended up frustrating fans rather than empowering them. 

Michael also points out that this battle repeats itself in new markets, and it’s bound to happen with tokenization. He adds that in every industry there are always good-faith actors wanting to deliver real value. Unfortunately, those individuals and organizations are often sidelined by opportunists who throw around the right buzzwords but completely miss the broader vision. Commodore admits that it’s “disheartening,” but recognizes that this is often how the markets work.

The future of DAOs

There are some people who are emerging as a “core team” in the Krause House DAO, and there are about five people who are aggressively working at scaling the DAO. Commodore also recognizes that a DAO can “use the right people at the right time.” He compares it to a Harvard alumni network, where a Harvard alum can probably score a 15-minute meeting with another Harvard alum, even if they wouldn’t usually prioritize the conversation without that connection.

Michael points out that there are many things to think about when it comes to the future of sports. There are fans who may be interested in NFT collectibles, while other investors may be more interested in how tokenization will change the sports sector as we know it. Other fans may care more about blockchain-based Esports platforms. Of course, the metaverse also offers new opportunities. 

Commodore believes that sports betting will probably be a major catalyst in the near future. Overall, Commodore believes that a social DAO can “go beyond crypto,” in the sense that they are more about community rather than a product-market fit. A social DAO, to him, offers a different kind of staying power since there is more longevity in a community with a shared vision.